Economy
Nigeria Gets First Bitumen Cargo From Puma Energy
By Modupe Gbadeyanka
Puma Energy has announced the delivery of its first cargo of bitumen to its terminal located in Calabar, Cross River State, under a joint venture with WABECO Petroleum Ltd, registered as P.E. Bitumen Resources (Nigeria) Limited.
Puma Energy is a global mid and downstream energy company.
According to a weekend statement by Puma Energy, the cargo was delivered by MT Acacia Rubra, which completed discharge early this month.
The statement disclosed that the delivery comes at a critical time to assist the federal government’s effort in rebuilding its road infrastructure which is a catalyst for the country’s economic development.
Puma Energy’s Global Head of Bitumen, Olof Klintholm, said the feat was a very important milestone for Puma Energy Bitumen.
“Nigeria is a key focus market for us as we keep building our global presence and it shows we can deliver Bitumen on specification and on time anywhere across the world,” Klintholm added.
According to Klintholm, Puma Energy looks forward to working with construction companies in delivering high quality bitumen to their projects around Nigeria.
Puma Energy has the world’s largest system of Bitumen ships and terminals, offering customers globally a wide range of products that meet local specification requirements at a competitive price.
The company has also helped to deliver new and safer roads in many countries around the world by assisting governments, highway agencies and construction companies in sourcing and supplying the bitumen they need for major construction works.
The company recently announced results for the first quarter of 2016 where it recorded 21 per cent increase in sales volumes supporting gross profit growth, while earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses (EBITDAX) rose by 19 per cent, with contained operating expenses.
It also recorded solid operating cash flows of $ 487million, reflecting good performance and disciplined working capital management with capital expenditure (Capex) of $326 million, financed by operating cash flows.
Net debt decreased, reducing leverage multiple to 2.9 times, in line with stated capital structure, while in May 2016, refinanced and increased the revolving credit facility to $1.55 billion.
Other operational highlights include: $139 million in organic capex put toward expanding terminals in Angola and Ghana, and smaller projects across Americas, Asia Pacific and Africa, with number of service stations increasing to over 2,400, driven by growth across all regions.
“Puma Energy continues to perform into the second quarter, delivering strong gross profit and EBITDA while hitting yet another quarterly record in terms of sales. Despite global challenges and currency devaluations, our solid operating performance and working capital discipline has resulted in operating cash flows that fully financed our strategic capex and acquisitions. This stability will help us to seize on select opportunities and continue to invest in our key markets,” commented Chief Financial Officer, Denis Chazarain.
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By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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